This is CBSI on the world. I'm John Batche with my colleague Gene Marks, a small business columnist for the Guardian paper for the Philadelphia Inquirer, and commenting on other distinguished publications for small businesses.

The business of America is small business.

All the new hiring, all the new ideas start with small businesses.

Apple started as a small business.

Sort of NVIDIA.

A gamer. I've got a better idea to do a game of gamer microchip. And now, Gene, what does it mean for small businesses? I've got two or three employees.

What does it mean for me?

It does have a bigger impact the smaller the business has,

the smaller the business is when you look at interest rates and interest rate cuts.

I'll get an example. The average credit card rate right now, John, average is 22% interest for credit cards.

And I bring that up because the smallest

the businesses frequently use credit cards

to finance their business.

They can't get traditional bank loans

or other types of debt, so they use credit card debt to do that.

And some of them when they're carrying balances,

I mean, like I said, they're paying like 22% interest.

It's like just an enormous number.

The Fed decreasing the rate means

that a lot of credit card companies are going to respond to that.

Their cost to capital will come down. They're super competitive. So you're going to see, you know, a decrease in credit card rates.

Now again, you know, you know, it will it come down from 22% to 2% no, but I can see it coming

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